The company is on track to meet its 2-to-4 percent sales growth target and wants to grow in a medium single-digit range from 2020 in organic terms, Schneider said in an interview published on Thursday.

On calls by activist investor Daniel Loeb to sell a stake in L`Oreal, the CEO said: "Nestle has performed exceptionally well with its engagement in L`Oreal for more than 40 years. I have nothing to add to this."

Separately, Schneider said the company has no plans to spin off slower-growing businesses outside its four defined growth areas.

($1 = 0.9607 Swiss francs)

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